Redgate buys into China's Media2U

BEIJING: Redgate Media, recently set up by former AOL Time Warner senior executive Peter Brack to develop media assets in China, has made its first major foray into the mainland market with the acquisition of a significant stake in Media2U.

Media2U holds the exclusive copyright cooperation licence in China for Popular Science - a Time Inc title covering the latest trends in technology.

Redgate's move coincided with the Beijing-based mainland company announcing that it had reached exclusive agreements with Future Networks to publish T3 and Digital Camera and the BBC for Top Gear.

The Chinese versions of T3, a UK-based, high-end consumer electronics title, and Digital Camera, focusing on photographic equipment and techniques, were recently launched.

Top Gear, an automotive publication, will roll out in January.

Brack said that as Redgate was principally an investment company, its role following any acquisition would therefore be primarily strategic in nature.

"We would get involved in all the financial parts of the business, including the strategic direction right down to the quality of editorial, paper and design," he said.

"We will also examine capital and human resources requirements. Media2U represents the first of a series of investments which will include equity positions in radio and television platforms."

Brack acknowledged that media laws in China were strict, but added that Redgate was providing best practice concepts.

"With the magazines we have so far, this is important because the target readership represents affluent, early adopters," he said.